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Geopolitical, Trade Tensions Continue; Wall Street Remains Positive

Originally published: 06.18.18 by Margot Crabtree


Our session was book-ended with the Korean summit: as the month began, the summit was abruptly cancelled, then revived, and concluded as our session ended June 15, 2018. 

But investors’ attention was more attuned to the simmering trade tensions between the U.S. and China, as both slapped tariffs on each other’s goods. The Federal Reserve raised interest rates a quarter point, hailed the strong U.S. economy and signaled the potential of two more rate hikes this year. The European Central Bank also met, and while it is pulling back on its bond stimulus, said it will not increase interest rates until mid-2019.

The Commerce Department said construction spending jumped 1.8 percent in April, a record high, as home construction rose by the biggest jump in 24 years. Construction is 7.6 percent ahead of this time a year ago. The Labor Department reported that the number of available jobs expanded in April by 1 percent, to a new record.

In May, employers added 223,000 jobs and pushed the unemployment rate to 3.8 percent, an 18-year low.

The Commerce Department reported that consumer spending rose 0.6 percent in April, the largest gain in five months. The Conference Board reported its May consumer confidence index increased


to 128.0, from April’s 125.6. The Commerce Department reported that retail sales rose 0.8 percent in May, the strongest increase in six months, and April’s sales were revised higher.

The Labor Department said that its producer price index, or prices before they reach consumers, rose 0.5 percent in May, the largest one-month increase since January. In a separate report, the department said that May’s consumer prices rose 0.2 percent, largely on the back of higher gasoline prices.

The Institute for Supply Management posted an increase in its manufacturing index to a reading of 58.7, from April’s 57.3. The Federal Reserve said that industrial production fell 0.1 percent in May, and cited a fire at a supplier of truck parts in Michigan, which disrupted the supply chain and truck production. A rebound is anticipated.

“I don’t think a trade war is going to be inevitable,” said Robert Pavlik, chief investment strategist at SlateStone Wealth LLC. “I think (the president is) posturing, I think he’s chest-pounding, I think he’s doing exactly what he thinks he got elected to do.”

Exchange
Symbol
Company Name
Price
6/15/18
Price
5/15/18
Net
Change
PercentChange
52-Week
High
52-Week
Low
Shares
Outstanding
Market
Capitalization
NASD AAON AAON, Inc. 33.30 29.50 3.80 12.88% 40.25 29.05 52360 1743588
NYSE ABB ABB Ltd. 23.03 23.82 -0.79 -3.32% 28.67 21.92 2130000 49053900
NYSE AOS AO Smith Corp. 62.88 62.98 -0.10 -0.16% 68.39 53.23 145080 9122630.4
NYSE FIX Comfort Systems USA, Inc. 47.90 44.75 3.15 7.04% 48.95 31.90 37040 1774216
NYSE DOV Dover Corp. 76.82 76.95 -0.13 -0.17% 88.09 62.08 154680 11882517.6
NASD ELON Echelon Corp. 4.15 4.19 -0.04 -0.95% 6.10 4.07 4540 18841
NYSE DWDP DowDuPont 67.75 67.15 0.60 0.89% 77.08 61.27 2320000 157180000
NYSE EME EMCOR Group, Inc. 77.70 75.47 2.23 2.95% 85.08 62.15 58460 4542342
NYSE EMR Emerson Electric Co. 72.28 71.83 0.45 0.63% 74.45 57.47 630090 45542905.2
NYSE FCAU Fiat Chrysler 20.85 22.38 -1.53 -6.84% 24.95 10.46 1540000 32109000
NYSE F Ford Motor Co. 11.88 11.22 0.66 5.88% 13.48 10.14 3910000 46450800
NYSE GM General Motors Co. 43.91 36.94 6.97 18.87% 46.76 33.86 1410000 61913100
NYSE HON Honeywell International, Inc. 150.23 147.35 2.88 1.95% 165.13 131.42 746930 112211293.9
NASD HDSN Hudson Technologies, Inc. 2.19 2.52 -0.33 -13.10% 10.40 2.05 42400 92856
NYSE IR Ingersoll-Rand Plc 92.14 88.88 3.26 3.67% 97.67 79.63 247960 22847034.4
NYSE JCI Johnson Controls, Inc. 35.04 36.27 -1.23 -3.39% 44.37 32.89 922600 32327904
NYSE LII Lennox International Inc. 211.33 199.13 12.20 6.13% 223.05 160.18 41240 8715249.2
NYSE LXU LSB Industries, Inc. 5.15 5.42 -0.27 -4.98% 11.71 4.75 28610 147341.5
NYSE MTW Manitowoc Co., Inc. 25.45 25.50 -0.05 -0.20% 44.03 22.12 35520 903984
NYSE MLI Mueller Industries, Inc. 30.41 29.28 1.13 3.86% 37.57 25.26 57560 1750399.6
NYSE NWL Newell Brands, Inc. 26.05 26.34 -0.29 -1.10% 55.08 22.60 485700 12652485
OTC NSANY Nissan Motor Co. Ltd. 19.77 20.43 -0.66 -3.23% 22.14 18.74 3910000 77300700
NASD OFLX OmegaFlex, Inc. 69.70 72.10 -2.40 -3.33% 76.63 53.50 10090 703273
NYSE PH Parker-Hannifin Corp. 170.92 176.66 -5.74 -3.25% 212.80 153.65 132960 22725523.2
NYSE RBC Regal-Beloit Corp. 82.40 79.30 3.10 3.91% 87.50 67.84 43980 3623952
NYSE ROK Rockwell Automation 177.66 178.18 -0.52 -0.29% 210.72 155.81 125580 22310542.8
OTC SIEGY Siemens Aktiengesellschaft  69.46 68.89 0.57 0.83% 77.17 61.68 812830 56459171.8
NYSE SPXC SPX Corp.  36.86 33.45 3.41 10.19% 37.96 23.41 42970 1583874.2
NYSE TXN Texas Instruments 115.89 109.21 6.68 6.12% 120.75 75.92 981720 113771530.8
NYSE UTX United Technologies Corp. 126.91 124.55 2.36 1.89% 139.24 109.10 800060 101535614.6
NYSE WSO Watsco, Inc. 187.90 178.77 9.13 5.11% 192.94 141.61 29050 5458495
 
 
Price 6/15/18
Price 5/15/18
Net Change
Percent Change
HVACR Business Stock Index 1,584.08 1,555.28 28.81 1.85%
Dow Jones Industrial Average 25,090.48 24,706.41 384.07 1.55%
S&P 500 Index 2,779.66 2,711.45 68.21 2.52%
NASDAQ Composite 7,746.38 7,351.63 394.75 5.37%

 

Gainers/Losers
$ Gainer Lennox International Inc. 12.20
$ Loser Parker-Hannifin Corp. -2.40
 
% Gainer General Motors Co. 18.87%
% Loser Hudson Technologies, Inc. -13.10%
 
Advancers 17
Decliners 14

The HVACR Business Stock Index rose 28.81 points, or 1.85 percent. Advancing issues topped declining issues by a 17-to-14 count.

General Motors jumped 6.97 points, or 18.87 percent. Investment firm Evercore ISI Research increased its rating to “outperform” from “in-line.” GM ended at 43.91, and was the top percentage gainer.

Omega Flex fell 2.40 points, or 3.33 percent. The company announced its regular quarterly dividend. The $0.24 per share will be payable on July 3, 2018 to shareholders of record as of June 18, 2018. OFLX closed at 69.70.

SPX Corp added 3.41 points, or 10.19 percent. The company has closed its $189 million acquisition of CUES Inc., a pipeline inspection manufacturer. SPX increased its yearly guidance to $2.15 and $2.25 per share, from an earlier forecast of $2.03 to $2.18 per share. SPXC ended at 36.86.

 




About Margot Crabtree

Margot is president of Trade Trends, Inc., a financial data services provider. She has been offering market analysis with customized stock indices and financial commentaries since 1999. For additional information, visit tradetrendsonline.com.

 

 




Articles by Margot Crabtree

Geopolitical, Trade Tensions Continue; Wall Street Remains Positive

The HVACR Business Stock Index rose 28.81 points, or 1.85 percent. Advancing issues topped declining issues by a 17-to-14 count.
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The HVACR Business Stock Index rose 20.97 points, or 1.37 percent, and closed at 1555.28. Advancing issues topped declining issues at a 19-to-12 count.
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Markets Falter with Political Turmoil and Trade War Concerns

The HVACR Business Stock index shed 48.27 points, or 3.05 percent, and closed at 1534.31. Declining issues outweighed advancing issues by a 25-to-6 count.
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Tariffs Collide with Bull Market; Stocks End Mixed

The HVACR Business Stock Index slid 32.80 points, or 2.03 percent, and closed at 1582.58. Declining issues passed advancing issues at a 19-to-12 count.
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Stocks Plummet into Negative Terrain

The HVACR Business Stock Index plunged 101.46 points, or 5.91 percent and closed at 1615.38. Declining issues dominated advancing issues by a 29-to-2 count.
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